Fuel Prices Soar in Abuja Amid Decline in International Crude Oil
Fuel prices have risen in the Federal Capital Territory (FCT) despite a decline in international crude oil prices. According to sources, many filling stations across Abuja have increased the pump price of Premium Motor Spirit (PMS), popularly known as petrol.
The development comes after Dangote Refinery increased its gantry price from N1,165 per litre to N1,200 and then to N1,265 within a week. This represents a N65 increase from the previous gantry price of N1,200.
As a result, several filling stations have adjusted their petrol prices upward, with motorists paying more for the product. For example, AY Shafa increased its pump price from N1,250 to N1,270 per litre, while Optima retail outlet raised its price from N1,260 to N1,300 per litre.
Industry experts have expressed concern over the growing financial pressure on livelihoods caused by soaring fuel prices. Economist Samson Ogunjimi said the situation is unbearable and many people are struggling to cope with the ripple effects on their livelihoods. He called on the federal government to intervene by stabilising fuel prices to ease the economic burden on Nigerians.